ATM Disclosure Bill Passes U.S. House 371-0

The U.S. House of Representatives overwhelmingly approved the ATM disclosure bill, H.R. 4367, by a vote of 371-0 on July 9. H.R. 4367 and its Senate counterpart, S. 3204, would eliminate the EFTA requirement for a physical ATM fee disclosure notice. Instead, only an electronic disclosure on the screen regarding any fee that may be incurred by the ATM user would be required.

Now that the bill has passed the House, it must be voted on by the Senate to move forward.

Missouri credit unions expressed strong support for the ATM disclosure bill by sending letters and emails to encourage cosponsors, and the Missouri Congressional delegation overwhelmingly supported the bill. H.R. 4367 was introduced by Missouri U.S. Rep. Blaine Luetkemeyer (R-District 9), and seven of Missouri’s nine U.S. Representatives - including all Missouri members of the House Financial Services Committee - are cosponsors. Both U.S. Senators Claire McCaskill (D) and Roy Blunt (R) are cosponsors of the Senate bill.

Missouri credit union representatives were on hand during Missouri Hike the Hill on June 27 when the House Financial Services Committee held a mark-up hearing on the bill.